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seth47591

Posted 3/8/2010 21:59 (#1111330 - in reply to #1111230)
Subject: RE: Lets tie down the communication, so we don't lose anything in the translation...........

Monticello IL

THANK YOU for clarifying
You had me worried for a second. I know several people that rent out their ground to not pay the social security.

In the orginally posters message I took his meaning to be that the wife and kids only would be in corp and not himself.....perhaps he can clarify that. Would his wife as part of a corp. receiving rent from him be subjust to the SS taxes. If not then he could pay is wife and kids corp rent that then they don't pay SS taxes on. Would be a good way to decrease SS tax liablitites.

LLC corp buying land - jjoseph : 3/8/2010 16:57
- RE: LLC corp buying land - seth47591 : 3/8/2010 18:06
  - The only rental income subject to SE taxes is that from ag land, producing a commodity---Sec 1402. - jakescia : 3/8/2010 19:12
    - RE: The only rental income subject to SE taxes is that from ag land, producing a commodity---Sec 140 - seth47591 : 3/8/2010 20:41
      - Lets tie down the communication, so we don't lose anything in the translation........... - jakescia : 3/8/2010 21:25
        
        RE: Lets tie down the communication, so we don't lose anything in the translation........... - seth47591 : 3/8/2010 21:59
        
        If I were an IRS agent, I would attack that from perspective that the structure was set up.......... - jakescia : 3/9/2010 11:52
        RE: Lets tie down the communication, so we don't lose anything in the translation........... - jjoseph : 3/9/2010 13:30
        
        RE: Lets tie down the communication, so we don't lose anything in the translation........... - jakescia : 3/9/2010 13:54
- RE: LLC corp buying land - jakescia : 3/8/2010 18:40
- If you want to talk with a tax attorney---- I know of a good one in small town north of Minneapolis. - jakescia : 3/9/2010 11:55

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